Name:
Section:
Score: 0%
Key Code:
1.
Fees earned
Operating expenses:
2.
Retained earnings, May 1, 20Y5
3.
Problem 1-1
Instructions
Answers are entered in the cells with gray backgrounds.
April 30, 20Y6
UTAH TRAVEL SERVICE
Retained Earnings Statement
For the Year Ended April 30, 20Y6
Assets
2
UTAH TRAVEL SERVICE
Income Statement
For the Year Ended April 30, 20Y6
UTAH TRAVEL SERVICE
Balance Sheet
Total assets
Liabilities
Name:
Section:
Score:
Scoring: ON
1.
Fees earned 1,594,200$
Operating expenses:
Wages expense 890,200$
Rent expense 226,800
2.
Retained earnings, May 1, 20Y5 300,000$
3.
Cash 428,300$
UTAH TRAVEL SERVICE
Income Statement
For the Year Ended April 30, 20Y6
UTAH TRAVEL SERVICE
Retained Earnings Statement
For the Year Ended April 30, 20Y6
UTAH TRAVEL SERVICE
Balance Sheet
April 30, 20Y6
Assets
See student sheet for student’s score.
SOLUTION
Problem 1-1
Instructions
Answers are entered in the cells with gray backgrounds.
Total assets 616,400$
Accounts payable 71,500$
Liabilities
Key Code:
1.
Paradise Realty is a business.
2.
Fees earned 149,300$
Operating expenses:
Wages expense (a)
Net income for November (c)
Less dividends (d)
Retained earnings, November 30, 20Y3 (e)
3.
Instructions
Answers are entered in the cells with gray backgrounds.
2
PARADISE REALTY
Assets
Income Statement
For the Month Ended November 30, 20Y3
PARADISE REALTY
Balance Sheet
November 30, 20Y3
PARADISE REALTY
Retained Earnings Statement
For the Month Ended November 30, 20Y3
Total liabilities and stockholders’ equity (k)
Cash flows from operating activities:
For the Month Ended November 30, 20Y3
PARADISE REALTY
Statement of Cash Flows
Name:
Section:
Score:
Scoring: ON
1.
Paradise Realty is a business.
2.
3.
Cash 99,200$
Supplies 6,000
Land (f) 216,000
See student sheet for student’s score.
SOLUTION
Problem 1-2
Instructions
Answers are entered in the cells with gray backgrounds.
service
PARADISE REALTY
Balance Sheet
Assets
November 30, 20Y3
PARADISE REALTY
Income Statement
Cells with non-gray backgrounds are protected and cannot be edited.
A red asterisk (*) will appear in the column to the right of an incorrect answer.
For the Month Ended November 30, 20Y3
PARADISE REALTY
For the Month Ended November 30, 20Y3
Total liabilities and stockholders’ equity (k) 321,200$
Cash flows from operating activities:
Cash received from customers (l) 149,300$
Deduct cash payments for expenses
and payments to creditors 68,100
Net cash from operating activities (m) 81,200$
For the Month Ended November 30, 20Y3
PARADISE REALTY
Statement of Cash Flows
Name:
Section:
Score: 0%
Key Code:
1.
Revenues:
Total revenue
Expenses:
2.
3.
TARGET CORPORATION
Balance Sheet
January 28, 20Y2
(in millions)
For the Year Ended January 28, 20Y2
(in millions)
TARGET CORPORATION
Retained Earnings Statement
For the Year Ended January 28, 20Y2
(in millions)
Income Statement
Answers are entered in the cells with gray backgrounds.
TARGET CORPORATION
Problem 1-3
Instructions
2
Cash
Receivables
Inventories
Property, plant, and equipment
Other assets
Total assets
Assets
Name:
Section:
Score: See student sheet for student’s score.
Scoring: ON
1.
Revenues:
Sales 68,466$
Other credit card revenue 1,399
Total revenue 69,865$
2.
Retained earnings, January 29, 20Y1 12,698$
Add net income 2,929$
3.
TARGET CORPORATION
Balance Sheet
January 28, 20Y2
Problem 1-3
SOLUTION
(in millions)
Instructions
Answers are entered in the cells with gray backgrounds.
TARGET CORPORATION
Income Statement
For the Year Ended January 28, 20Y2
(in millions)
TARGET CORPORATION
Retained Earnings Statement
For the Year Ended January 28, 20Y2
Cash 794$
Receivables 5,927
Inventories 7,918
Property, plant, and equipment 29,149
Other assets 2,842
Total assets 46,630$
(in millions)
Assets
Liabilities
Name:
Section:
Score: 0%
Key Code:
Net cash flows from operating activities
Cash flows from investing activities:
Statement of Cash Flows
For the Year Ended December 31, 20Y1
(in millions)
Net cash flows from investing activities
Problem 1-4
Instructions
GOOGLE INC.
2
Name:
Section:
Score:
Scoring: ON
Net cash flows from operating activities 11,081$
Cash flows from investing activities:
(50,140)$
39,460
(10,680)
Problem 1-4
SOLUTION
See student sheet for student’s score.
Instructions
Answers are entered in the cells with gray backgrounds.
GOOGLE INC.
Statement of Cash Flows
For the Year Ended December 31, 20Y1
(in millions)
Cash payments for property, plant, and equipment
Receipts from sale of investments (net)
Net cash flows from investing activities
Cash receipts from issuing capital stock